IOTA Foundation partners with Zühlke to drive machine-as-a-service offerings for manufacturing

The IOTA Foundation has partnered with Zühlke, a service provider for projects technology and business expertise. The partnership will focus on impacting the industry through the creation of machine-to-machine technology innovation in the manufacturing and machinery sectors.

By incorporating the open-source, fee-free Tangle distributed ledger technology platform, the IOTA Foundation and Zühlke plan to offer the industry a cost and performance-effective technology innovation that will open new channels of access to prohibitively expensive equipment.

While the initial collaboration is focused on Germany’s manufacturing and machinery industries, Zühlke and IOTA Foundation are looking to create projects serving the broader Asian and UK marketplace. 

The companies also see opportunities in the supply chain, financial services, insurance, health care and industrial consumer goods sectors. Zühlke is one of the first companies of its kind to enter the DLT space and brings a 50-year history of successful projects to the joint initiative.

“Our collaboration aims to integrate IOTA Foundation’s distributed ledger technology platform, the Tangle, into Zühlke projects which will deliver innovation for manufacturing and machinery components,” said Jens von der Brelie, director of the Solution Center Industrial and Consumer Solutions at Zühlke, responsible for machine-building industry initiatives. “This enables advances such as the creation of micro-payments functionality, opening the door to new models of machine usage and commercialization.”

Machinery, traditionally a significant capital investment for a company, can be restructured into a machinery-as-a-service model that will offer the use-specific and cost-effective approach of pay-per-use, enabling enterprises to only pay for their use of capital-intensive machinery.

“For the heavy equipment sector, this innovation will deliver a new revenue channel by allowing them to ‘rent’ their equipment to enterprises on the pay-per-use model when not in use,” said Dominik Schiener, co-founder and co-chair of the IOTA Foundation. “For enterprises, this pay-per-use innovation will allow them cost and time-effective access to critical heavy machinery.”

“The machinery and manufacturing sector is already seeing the power of Internet of Things integration,” Schiener added. “Leveraging IOTA’s Tangle into this equipment takes the concept of machinery-as-a-service into a new arena of access and affordability.”

“Zühlke has helped over 10,000 projects become reality with our focus on making smart ideas happen through project success,” said Jens von der Brelie. “With partners like the IOTA Foundation we want to eliminate barriers for the establishment of machine-as-a-service models in which we see high potential for our clients.”

IoT Innovator Newsletter

Get the latest updates and industry news in your inbox! Enter your email address and name below to be the first to know.